VANCOUVER, BC, Oct. 19, 2021 /PRNewswire/ -- USA News Group - Another major acquisition is taking place in the Lithium Triangle region of South America that spans Argentina, Bolivia and Chile. Through a cash deal worth $770 million, Chinese mining giant Zijin Mining Group Company Limited (OTCPK:ZIJMF) has entered into a definitive agreement to acquire Canadian Neo Lithium Corp. (OTCQX:NTTHF) (TSXV:NLC) and all of its assets in Argentina's largest lithium producing area. The move has instantly highlighted the importance and attractiveness of other Lithium Triangle players, from developers to producers, including Lithium South Development Corporation (TSXV:LIS) (OTCQB:LISMF), Lithium Americas Corp. (NYSE:LAC) (TSX:LAC), and Livent Corporation (NYSE:LTHM).
Already ranked number 4 among the world's top lithium producing nations, Argentina is making a push to speed up its development. In particular, the Salta province, which is building up its regional mining logistics nodes and access roads, while also lower tax rates and cleaning up confusing rules for the sector in order to attract more investment like that of Zijin Mining Group Company Limited (OTC:ZIJMF).
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